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Investor Information / How We Are Invested text size [+][]
How We Are Invested
Onex has invested its capital in private equity, real estate and credit securities while maintaining a prudent amount of cash to fund future investment opportunities.

Proprietary Capital
($ in millions)
As at

Mar. 31,
2013

Dec. 31,
2012

Private Equity
Onex Partners
Private Companies(1)

$    1,747 

$ 1,862
Public Companies(2)

803 

704
Unrealized Carried Interest on Onex Partners Investments(3)

162 

140
ONCAP(4)

418 

409
Direct Investments
Private Companies(5)

151 

148
Public Companies(2)

144

145

$    3,425

$ 3,408
Onex Real Estate Partners(6)

150 

192
Onex Credit Partners(7)

197

171

347

363 
Other Investments

109

108 
Cash and Near-Cash(8)

1,250

1,141
Onex Corporation Debt

Nil

Nil

$    5,131

$     5,020
Proprietary Capital per Share
(March 31, 2013 - C$43.49; December 31, 2012 - C$41.21)
(9)

$    42.81

$     41.42

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(1) Based on the US$ fair value of the investments in Onex Partners’ financial statements net of the estimated Management Investment Plan (“MIP”) liability on these investments of $55 million (2012 - $39 million). RSI, which was sold in February 2013, was included in private companies of Onex Partners at December 31, 2012.
(2) Based on the closing market values and net of the estimated MIP liability on these investments.
(3) Represents Onex’ share of the unrealized carried interest on public and private companies in the Onex Partners Funds.
(4) Based on the C$ fair value of the investments in ONCAP’s financial statements net of the estimated MIP liability on these investments of $28 million (2012 - $25 million) and a US$/C$ exchange rate of 1.0160 (2012 – 0.9949).
(5) Based on the fair value.
(6) Based on the fair value of Onex Real Estate Partners’ investments.
(7) Based on the market values of investments in Onex Credit Partners’ Funds and Onex Credit Partners Collateralized Loan Obligations. Excludes $334 million (2012 - $328 million) invested in a segregated Onex Credit Partners unleveraged senior secured loan strategy fund, which is included with cash and near-cash items.
(8) Includes $334 million (2012 - $328 million) invested in a segregated Onex Credit Partners' unleveraged senior secured loan strategy fund.
(9) Calculated on a fully diluted basis.

Onex Corporation has no debt. Its policy is to preserve a financially strong parent company that has funds available for new acquisitions and to support the growth of its businesses.